Fast 50 Report 2026 Banner

Diamond Creek

POSTAL CODE: VIC, 3089
HOUSE
UNIT

Property investors enjoyed capital gains of 1.44% over the last 12 months in DIAMOND CREEK, translating to lower returns compared with its peers in VIC.

Figures from the previous quarter show that capital gains for real estate buyers in DIAMOND CREEK are low, as opposed to average gains per annum over the past five years.

The suburb posted a 8.23% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.

This number can mean, real estate investors could earn a rental income of $650 based on current median home prices for the suburb.

On average, rents on listings have reached the $650 mark, reflecting a 3.1% increase in returns based on the current median price in DIAMOND CREEK.

DIAMOND CREEK, 3089 ranks 449th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

While it ranks 420th on the list of best yielding suburbs for rental properties in VIC, posting a 3.1% return.

Surburb overview

Diamond Creek, located approximately 23 kilometres northeast of Melbourne's Central Business District, is a suburb within the Shire of Nillumbik. According to the 2021 Census, it has a population of 12,503 residents, with a median age of 39. The community predominantly consists of families, with couples with children being the most common household structure.

Public transportation in Diamond Creek is well-developed. The Diamond Creek railway station on the Hurstbridge line serves the suburb, providing regular services to Melbourne's CBD. Additionally, bus routes connect Diamond Creek to surrounding areas, enhancing its accessibility.

Diamond Creek has several essential establishments, including Diamond Valley College, Diamond Creek Primary School, and Sacred Heart Primary School. The suburb also features a variety of shops, cafes, and medical services, providing residents with convenient access to daily necessities. The Diamond Creek Community Centre offers facilities for sports, fitness classes, and community events.

Recreational activities are abundant, with numerous parks and reserves offering green spaces for outdoor pursuits. The suburb hosts the annual Diamond Creek Town Fair, a community event featuring a parade, food stalls, crafts, and entertainment. Sports enthusiasts can engage with local clubs, including the Diamond Creek Football Club and the Diamond Creek Women's Football Club.

The housing market in Diamond Creek is characterised by separate houses, with a median property price of approximately $1,075,500. The area is primarily zoned as Rural Conservation Zone (57.79%) and General Residential Zone (32.42%), reflecting its blend of suburban and rural characteristics.

Diamond Creek offers a family-friendly environment with convenient access to essential services and recreational facilities, contributing to its appeal as a desirable suburb in Melbourne's north-east.

You’re out of free articles for this month
Loading form...